reclaiming Generali Vision plan premiums

moocherx · 4 September 2012 at 7:25PM

I'm coming to this late in the day, but have precisely the same issue as outlined by bbqlx50 regarding being sold a Generali Vision fund while working in the Middle East.

I was told after the initial period, I could do what I wanted. Invested $50,000, and the other day was told I could surrender if tor about $3,000.

It seems from following these posts, there is literally nothing that can be done. I find this hard to believe, as I see now that the fund is administered within the UK (in my case at least) by a broker in Truro, Cornwall.

Has anyone else looked into whether, now being administered in the UK, whether the FSA can intervene on this clear (though sadly, without evidence - I was "just told") evidence of mis-selling?

Thanks all.

dunstonh · 4 September 2012 at 9:35PM

Has anyone else looked into whether, now being administered in the UK, whether the FSA can intervene on this clear (though sadly, without evidence - I was "just told") evidence of mis-selling?

Its about who did it at point of sell. The seller is the issue. Not the provider.

moocherx · 4 September 2012 at 9:40PM

Yes, sorry, I meant to mention that the IFA (an international company) now seems to manage my fund from the UK, in Truro Cornwall. It seems to have passed from their Kuwait operation. So I'm tempted to go to the FSA as Generali say I'm contracted to make 10 years of payments, yet I have quite clear emails from the IFA that say "I'm through" (in terms of mandatory payments) after 13.4 months.

Does it sound worth pursuing?

Thanks.

Galberz · 22 November 2012 at 6:02PM

I hate to sound harsh but these plans were not mis-sold really. I bought into a 5 year deal simply because I read the T&C's that were there to read. They try to lure you into a 10 years+ deal with the so-called loyalty bonus but it isn't worth a great deal.

You have my sympathy but what can I say guys? Buyer beware, as with everything you purchase or sign into...especially when it involves your life savings! Seriously, why WOULDN'T you read the T&C's.

cccc6 · 29 November 2012 at 9:25AM

I think it is valid to suggest that prospects need to read the T+Cs very carefully. However, deVere crooks really are smooth and will divert from T+C's by saying they are just the usual blah blah.. the main conditions are as we discussed... please sign here.

ramina_2 · 23 July 2013 at 4:43PM

Guys, I am not experienced in all these investments. My question is what average interest is earned on the investment into Generali Vision 5 years? Does anyone can provide approx. number? Is that 25? 5%? 10%? More?
I would like to understand one more thing. You guys keep discussing the advisor's fee. But the question is again, how much do YOU get on your investment? And if this program is bad, how the money can be invested better, with higher return?
Thanks for sharing.

dunstonh · 23 July 2013 at 4:58PM

My question is what average interest is earned on the investment into Generali Vision 5 years?

zero. They are not interest paying.

You guys keep discussing the advisor's fee. But the question is again, how much do YOU get on your investment?

Whatever the investment return is.

And if this program is bad, how the money can be invested better, with higher return?

This type of product was obsolete over 20 years ago in the UK. If you are looking at alternatives you are better off looking at a site that caters for your country of residence. Not a UK site.

ramina_2 · 23 July 2013 at 6:05PM

my country of residence is Qatar. I am an expat living abroad, and looking for some off shore investments.
..this is weird that Generali pays `Zero` interest. So you are implying that in 5 years I will get my initial investment only?
My advisor is committed to at least 8%pa. That`s why my second question came up. I mean, I kind of don't care how much my advisor will earn from my investment - well he has to earn something anyway, that`s why he is hired, as I am not able to do this type of job - as long as I will get my at least 8%.
Am I missing something ? Am I wrong?
and sorry, I didn't know it is a `` UK `` site. I googled `Generali Vision` and that`s how I got to this site.

dunstonh · 23 July 2013 at 9:01PM

..this is weird that Generali pays `Zero` interest. So you are implying that in 5 years I will get my initial investment only?

You will get whatever the value of the investment is minus any early surrender penalties. The value will fluctuate daily.

I kind of don't care how much my advisor will earn from my investment - well he has to earn something anyway, that`s why he is hired, as I am not able to do this type of job - as long as I will get my at least 8%.

There is a difference between a sales rep and an adviser. Trust should not be given out so easily to sales reps.

Flipflop1 · 24 May 2014 at 8:33AM

Please try and sign this petition to air your views and experiences of Generali investments. I cant add a link but if you google search the following you will find it.
petitions/generali-annul-vision-contracts-and-return-all-funds-at-current-market-prices
Please try and make the difference if you can. The more current the posts, the more current this all stays to help those about to make the same mistakes with Generali as we did. You never know...it might also make them think about changing their bussiness practice. Its not so easy to hide on the internet.

reclaiming Generali Vision plan premiums

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